| Swept by the wave of global financial innovation, change in the insurance products initially reflects the innovation and development in the insurance industry. As is known, the traditional insurance products have derived their function from basic insurance cover to investment. Since the end of the 20 th century, the over ten years’ development has taken shape of investment-oriented insurance products in China. We have not only developed investment-linked insurance, universal insurance, and bonus insurance in the field of life insurance, but also family property insurance in the field of non-life insurance products. As is acknowledged, traditional life insurance has three categories, including life insurance, health insurance and accidental injury insurance. Property insurance, according to different insurance objects and contents, generally can be divided into property damage insurance, liability insurance, guarantee insurance, etc. “Methods of Information Disclosure Management of New Products of Life Insurance in China ”, which was issued in 2009, stipulated that new investment-oriented life insurance products includes investment-linked insurance, universal insurance, bonus insurance and some other insurances authorized by the insurance supervisory agency under the state council.Investment-oriented insurance products have become popular among customers, and the sales of financing products accounted much more than before in the total sales of an insurance company, which caused a lot of new insurance disputes, as seen some cases of rights and interests infringement of insurers on paper. In the face of challenges, our current laws, regulations and all kinds of normative documents have some difficulties in protecting interests of new insurers. We need to change the old idea of supervision and devise a more comprehensive and detailed legal protection path for the new investment-oriented insurance products. Regarding new investment-oriented insurance products as the research direction, and the protection of rights and interests of new applicants as a major concern, this dissertation makes efforts to put forward some beneficial advises for the sustained and sound development of the new type of investment-oriented life insurance products based on experiences abroad.Besides the preface and the conclusion, this dissertation is divided into four parts:Firstly, in accordance with the general concept of investment-oriented life insurance, the author concludes its characteristics compared with traditional insurance products, as well as the insurance law and the trust law nature of new life insurance. On this basis, the author defines the specific scope of the rights and interests of the new investment-oriented life insurance policy-holders and searches the jurisprudence of the protection of rights and interests of policy-holders, laying foundation for the choice of path to legal protection of rights and interests of new policy-holders.The second part analyzes various kinds of laws, regulations and regulatory documents for effective protection of rights and interests of policy-holders at present society, getting the limitations of the scope of protection and strength. Then the author lists behaviors in practice infringing the rights and interests of policy-holders, respectively involved in the applicant’s right to information, right to choose, right to privacy and right to fair trading, highlighting the urgency and necessity of the overall and effective protection of the new type of rights and interests of policy-holders.The third part makes efforts to lay foundation for the path to legal protection in terms of theory and system mainly through learning from experiences abroad. Therefore, the author introduces the principle of unfavorable interpretation and reasonable expectation, transparent and fair allocation of risks as well as more strict liability in the aspect of idea and theory. Then the author tells the mixed supervision system, the insurance company solvency of market access system, information disclosure system and credit rating system in the United States in terms of institutional mechanisms.The fourth part designs the path to protect the rights and interests of policy-holders from four perspectives. First of all, the author theoretically amends the idea of the protection of investment-oriented life insurance of policy-holders. Secondly, on the basis of absorbing legal experiences abroad, the author, according to our specific national conditions, puts forward to promoting the system of qualified applicants for investment-oriented insurance products and strengthening the education and training to policy-holders, as well as the protection mechanism for the applicants. Thirdly, the author puts forward to resetting the market access threshold of investment-oriented life insurance products, enhancing the overall quality of the insurance agents, strengthening the internal control and management mechanism of insurers to investment-oriented life insurance products and improving the restraint mechanism for insurers. Finally, the author presents to develop civil dispute processing mechanism about investment-oriented life insurance. |
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